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Canadian Competition Bureau claims RBS 'lack of cooperation'

The Canadian Compeition Bureau investigating the Royal Bank of Scotland (RBS) over accusations it manipulated global interest rates has claimed that the bank has showed a lack of cooperation and given misleading statements.

RBS, the Ottawa-based agency claims, is not obliging requests for information, as the probe tries to establish if the bank is complicit in fixing the yen Libor rate.

"The suggestion that the RBS Group is 'co-operating fully' with the bureau is false," the Canadian organisation said.

RBS has said that the investigators' techniques for acquiring information raises concerns over confidentiality, but has assured that it is willing to use alternative methods.

"It is simply not accurate to imply that we do not want to cooperate with the Canadian Competition Bureau," the bank said.

The organisation was successful in gaining a court order that required RBS to handover documentation that would aid the investigation in May 2011.

RBS is one of over a dozen banks under investigation for fixing Libor.

Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfers.ADNFCR-2776-ID-801488433-ADNFCR



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